Community Foundation Of Greater Memphis Inc
- Assets
- $924.3m
- Revenue
- $239.4m
- Investments
- $116.5m
- Employees
- 18
- Location
- Memphis, TN
- Founding
- 08/1990
- Data as of
- 04/2021
- EIN
- 58-1723645
Organization Overview
Community Foundation Of Greater Memphis Inc is located in Memphis, TN. The organization was established in 1990. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 04/2022, Community Foundation Of Greater Memphis Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Foundation Of Greater Memphis Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 04/2021, Community Foundation Of Greater Memphis Inc generated $239.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $163.6m during the year ending 04/2021. While expenses have increased by 2.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Community Foundation Of Greater Memphis Inc has awarded 14,826 individual grants totaling $739,098,977. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COMMUNITY FOUNDATION IS A PHILANTHROPIC ORGANIZATION THAT MANAGES CHARITABLE FUNDS WITH A BROAD BASE OF DONORS TO BENEFIT THE AREAS OF WESTERN TENNESSEE, EASTERN ARKANSAS, AND NORTHERN MISSISSIPPI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR ADVISED FUNDS:THE FOUNDATION'S PRIMARY PROGRAM IS TO ADMINISTER DONOR ADVISED FUNDS. TO ACCOMPLISH THIS, THE FOUINDATION RECEIVES AND ACCEPTS PROPERTY TO BE USED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES PRIMARILY IN AND FOR THE BENEFIT OF THE COMMUNITY OF MEMPHIS AND SHELBY COUNTY, AND THE VICINITY THEREOF.
FIELDS OF INTEREST FUNDS:THE FOUNDATION OFFERS FIELD OF INTEREST FUNDS TO SUPPORT SPECIFIC AREAS OF INTEREST, SUCH AS THE ARTS, ENVIRONMENT OR EDUCATION, RATHER THAN AN INDIVIDUAL NONPROFIT ORGANIZATION. THE LARGEST OF THESE FUNDS HOSTED BY THE FOUNDATON WAS THE MID-SOUTH COVID-19 REGIONAL RESPONSE FUND, WHICH PROVIDES FLEXIBLE FUNDING TO ORGANIZATIONS WORKING WITH COMMUNITY MEMBERS WHO HAVE BEEN IMPACTED BY NOVEL CORONAVIRUS AND THE ECONOMIC CONSEQUENCES OF THE OUTBREAK IN OUR REGION OF WEST TENNESSEE, NORTH MISSISSIPPI, AND EASTERN ARKANSAS. THE FUND IS DESIGNED TO COMPLEMENT THE WORK OF PUBLIC HEALTH OFFICIALS AND EXPAND LOCAL CAPACITY TO ADDRESS ALL ASPECTS OF THE OUTBREAK AS EFFICIENTLY AS POSSIBLE.
NONPROFIT ORGANIZATION DESIGNATED SUPPORT FUNDS:NONPROFIT ORGANIZATIONS ARE ALLOWED TO ESTABLISH DESIGNATED AGENCY FUNDS WITH THE FOUNDATION. SUCH FUNDS SUPPORT THE WORK OF THE NONPROFIT AND ENABLES ACCESS TO THE MANY SERVICES AND RESOURCES OFFERED BY THE FOUNDATION.
OTHER PROGRAM SERVICES, TO INCLUDE: GRANTS & INITIATIVES, GIVE365, AND SCHOLARSHIPS. GIVE 365 IS A NEW WAY OF BRINGING CHARITABLE PEOPLE TOGETHER FOR GOOD. GIVE 365 MEMBERS GIVE A MINIMUM OF $1 A DAY OR $ 365 ANNUALLY. BY POOLING SMALLER DONATIONS INTO A CHARITABLE FUND, GIVE 365 MEMBERS ARE ABLE TO MAKE SIGNIFICANT GRANTS THAT IMPROVE OUR COMMUNITY TODAY AND TOMORROW. THAT IS BECAUSE 50 PERCENT OF ALL FUNDS RAISED ARE DISTRIBUTED ANNUALLY, AND 50 PERCENT ARE INVESTED IN AN ENDOWED FUND TO SUPPORT FUTURE GRANTS.GIVE 365 EXPANDING MEMBERSHIP HAS ESTABLISHED A PATTERN OF CHARITABLE GIVING AND A LASTING FUND THAT CONTINUES TO GROW. GIVE 365 IS HARNESSING THE ENERGY, ENTHUSIASM AND RESOURCES OF MEMPHIANS AND CONNECTING LIKE-MINDED PEOPLE WHO WANT TO MAKE A DIFFERENCE. THE FOUNDATION OFFERS A SCHOLARSHIP PROGRAM FOR STUDENTS RESIDING IN THE METROPOLITAN MEMPHIS AREA. PRIORITY WILL BE GIVEN TO STUDENTS WHO ARE INVOLVED IN THE COMMUNITY THROUGH VOLUNTEER ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Holtel Treasurer & CFO (thru 10/21) | Officer | 37.5 | $354,376 |
Robert M Fockler President & CEO | Officer | 37.5 | $336,000 |
Barbara S Mora Asst Secretary & COO | Officer | 37.5 | $163,000 |
Caroline Kuebler Dir. Of Development | 37.5 | $146,310 | |
Julia C Mcdonald VP Of Communications | 37.5 | $118,250 | |
Chip Marston Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robert Half Staffing | 4/29/22 | $118,606 |
Sullivan Branding Llc Marketing | 4/29/22 | $128,009 |
Stellar Technology Solutions Llc Software | 4/29/22 | $171,594 |
Prime Buchholz Investment Advisory | 4/29/22 | $282,375 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $50,329 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,091,444 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $203,796,524 |
| Noncash contributions included in lines 1a–1f | $79,428,847 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,938,297 |
| Total Program Service Revenue | $4,395,306 |
| Investment income | $16,248,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,705,939 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $239,424,580 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $154,876,329 |
| Grants and other assistance to domestic individuals. | $141,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,271,211 |
| Compensation of current officers, directors, key employees. | $987,568 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $613,502 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $156,295 |
| Payroll taxes | $113,618 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,540 |
| Fees for services: Accounting | $109,164 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,092,327 |
| Fees for services: Other | $68,862 |
| Advertising and promotion | $94,446 |
| Office expenses | $150,713 |
| Information technology | $228,835 |
| Royalties | $0 |
| Occupancy | $111,257 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,931 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,709 |
| Insurance | $80,148 |
| All other expenses | $17,200 |
| Total functional expenses | $163,571,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $64,365,468 |
| Pledges and grants receivable | $804,898 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,632,595 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,438 |
| Net Land, buildings, and equipment | $974,390 |
| Investments—publicly traded securities | $736,892,422 |
| Investments—other securities | $116,502,980 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,087,439 |
| Total assets | $924,315,630 |
| Accounts payable and accrued expenses | $208,061 |
| Grants payable | $43,735 |
| Deferred revenue | $709,018 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $960,814 |
| Net assets without donor restrictions | $716,544,039 |
| Net assets with donor restrictions | $206,810,777 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $924,315,630 |
Grants Awarded
Over the last fiscal year, Community Foundation Of Greater Memphis Inc has awarded $132,716,674 in support to 768 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $8,134,114 |
Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $7,636,304 |
Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $5,613,821 |
Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $5,348,274 |
Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $4,176,533 |
Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $3,393,505 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Community Foundation Of Greater Memphis Inc has recieved totaling $2,217,114.
| Awarding Organization | Amount |
|---|---|
Rose Foundation Santa Monica, CA PURPOSE: UNRESTRICTED CONTRIBUTION FOR THE FURTHERANCE OF THE QUALIFIED CHARITY'S MISSION | $716,423 |
Childrens Foundation Of Memphis Memphis, TN PURPOSE: EDUCATION | $564,109 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $516,950 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $97,550 |
United Way Of The Mid-South Memphis, TN PURPOSE: SEE SCH O | $51,881 |
Tennessee Health Foundation Inc Chattanooga, TN PURPOSE: COVID-19 RESPONSE (PAY IT FORWARD CAMPAIGN - MEMPHIS) | $50,000 |
Endowment Analysis
| Beg. Balance | $533,677,474 |
| Earnings | -$72,704,098 |
| Admin Expense | $1,596,755 |
| Net Contributions | $36,144,624 |
| Grants | $27,150,151 |
| Ending Balance | $468,371,094 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For The Carolinas Charlotte, NC | $2,909,768,326 | $770,296,528 |
Greater Kansas City Community Foundation Kansas City, MO | $2,187,060,299 | $350,777,343 |
Community Foundation Of Greater Memphis Inc Memphis, TN | $924,315,630 | $239,424,580 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA | $1,342,201,584 | $352,758,843 |
Winston-Salem Foundation Winstonsalem, NC | $588,201,555 | $114,585,898 |
Northeast Arkansas Clinic Char Foundation Inc Jonesboro, AR | $30,841,351 | $111,453,747 |
The Community Fdn Of Middle Tn Inc Nashville, TN | $564,381,158 | $154,729,330 |
St Louis Community Foundation Incorporated St Louis, MO | $436,956,368 | $124,413,038 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN | $205,748,037 | $85,831,682 |
The Community Foundation Inc Richmond, VA | $859,349,771 | $152,790,051 |
Arkansas Community Foundation Inc Little Rock, AR | $560,797,819 | $112,679,416 |
The Community Foundation Of Louisville Inc Louisville, KY | $675,486,716 | $70,628,491 |